Lithium-Nickel Project Acquisition Sends Bryah Share Price Up 14% (ASX:BYH)

By ,

The Bryah Resources Ltd [ASX:BYH] has acquired a new exploration project — the Lake Johnston Lithium-Nickel Project.

BYH’s new addition to its portfolio of projects is 400 km east of Perth, consisting of eight exploration licence applications covering 690km2.

Bryah says Lake Johnston enhances its strategy of exploring for the energy metals of the future ‘in a proven geological environment.

Bryah Resources Ltd [ASX:BYH] share price is currently up 14%.

ASX BYH - Bryah Share Price ChartSource:

Having underperformed the ASX 200 this year, Bryah is likely angling toward the hot lithium sector in a move to regain momentum.

Bryah acquires lithium-nickel project

Bryah Resources acquired the Lake Johnston Lithium-Nickel Project. The project consists of eight exploration licence applications.

BYH said the acquired project extends to within 10 km east of the Mount Holland lithium mine being developed under the Wesfarmers and SQM joint venture.

The Mt Holland project included a lithium deposit with a reported mineral resource of 189 million tonnes grading 1.5% Li2O.

Bryah Managing Director Neil Marston said:

Bryah is an energy metals’ focused company with copper, lithium, nickel, gold and manganese assets in Western Australia. This acquisition broadens our exploration reach.

The tenements Bryah will be exploring shortly are within a region which has been proven to be highly prospective for lithium as well as nickel and copper — all vital commodities in the EV/energy storage revolution.

Recent exploration work for lithium and nickel on our Lake Johnston tenements has been limited, however the region has huge potential for new discoveries using modern exploration techniques.

BYH PresentationSource: BYH presentation

BYH share price outlook

To know which way the prevailing wind is blowing, see what the opportunity-hungry junior explorers are doing.

In BYH’s case, it is branching out from exploring copper, gold, and manganese to prospecting for nickel and lithium.

Lithium is one of the hottest sectors right now, seeing the likes of Vulcan Energy Resources Ltd [ASX:VULand Lake Resources NL [ASX:LKE] gain over 1,000% in the last 12 months.

It’s likely BYH has seen an opportunity it does not wish to pass up, ending today’s update with research on the outlook for the white metal.

Citing the latest Resources and Energy quarterly from the Department of Industry, Science, Energy and Resources, BYH pointed to the rising spot lithium prices and growing EV sales.

According to the Department’s report, demand for EVs is expected to rise to around 30% of annual vehicle sales by 2030.

If you want to learn more about the lithium industry, I suggest checking out this report.

And if you want an in-depth tour of investing in lithium, I suggest going over this guide we published last month.


Kiryll Prakapenka,
For Money Morning

PS: Our publication Money Morning is a fantastic place to start on your investment journey. We talk about the big trends driving the most innovative stocks on the ASX. Learn all about it here

About Kiryll Prakapenka

Kiryll Prakapenka is a research analyst focusing on investigating the biggest trends in investments. Kiryll brings sound analytical skills to his work, courtesy of his Philosophy degree from the University of Melbourne. A student of legendary investors and their strategies, Kiryll likes to synthesise macroeconomic narratives with a keen understanding…

Lake Resources Share Price: March Quarter Update [ASX:LKE]

Lake Resources [ASX:LKE] released its March quarter results on Thursday.

Lake Resources Shares Soar on Lithium MoU with Ford

Today Lake Resources [ASX:LKE] announced its second non-binding MoU of 2022, this time with auto giant Ford Motor Company. LKE shares rose as much as 16% in morning trade on the news. Reaffirming the strength of the lithium theme, LKE is up over 500% in the last 12 months alone, although the stock is down … Read More

Vulcan Energy Signs Offtake with German Energy Supplier [ASX:VUL]

Vulcan Energy Resources Ltd [ASX:VUL] on Wednesday announced an offtake with Germany’s ‘largest municipal energy supplier.’

Allkem Shares Rise on Lithium Strategy Update [ASX:AKE]

Allkem [ASX:AKE], the established lithium producer, is looking to take advantage of the strong lithium market.

Lake Resources Shares Soar to Record High on Offtake Deal

The Lake Resources [ASX:LKE] share price spiked 15% today following a non-binding MoU with Hanwa for up to 25,000tpa of lithium carbonate.

Piedmont Lithium Shares Rise as Successful Public Offering Closes [ASX:PLL]

Piedmont Lithium Ltd [ASX:PLL] shares rose on Friday as the lithium developer closed its public stock offering.